Market Watch: Rate decision tonight. A cut bigger than 25bps would be a surprise by Geojit Financial Services Ltd
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Daily charts are evenly poised despite being overbought in some oscillators. However, hourly charts do call for a consolidation or a dip. Towards this end, we will eye a slippage past the congestion support of 25405 to initiate a play on a downmove aiming 25276 or 25200. Collapse beyond the same is not expected today, but we could equally expect momentum to ease off should we get into the 25500-800 region.
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